Bitcoin slips below $77,000 as rate concerns trigger $488 million crypto liquidation

Bitcoin fell below $77,000 on Friday after Federal Reserve Chair Kevin Warsh renewed concerns about higher interest rates during remarks at Jackson Hole. Data reported by CryptoSlate showed Bitcoin reaching an intraday low of $76,909 before recovering to $77,712 at press time. The move left the largest cryptocurrency down approximately 4% over the previous 24 hours. The decline also spread across the broader crypto market, contributing to a liquidation cascade valued at $488 million, according to the report. Rising expectations for further rate increases added pressure to crypto assets as traders responded to the shift in interest-rate outlook. Bitcoin remains the primary market asset affected in the reported move, while related crypto tokens and broader market indicators were also included among the associated assets.